Genuinely curious, how and when did people find out about IB as a career path?
Do you feel you found out about IB too late to be prepared to recruit?
What do you wish you did as a freshman to prepare?
What is / was your biggest challenge breaking in?
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Genuinely curious, how and when did people find out about IB as a career path? In my intro to finance class in sophomore year. We were doing a high-level DCF and it just clicked for me. I asked the prof at end of class RE what professions use DCFs. He said IB, PE, HF, S&T, and I googled those jobs thereafter and found that the path to many starts at IB
Do you feel you found out about IB too late to be prepared to recruit? Definitely too late - by the time I found out about it all intern spots at BB / EB / MM were taken for the following summer. I recruited for LMM boutique and got a spot, but really wish I found out about it earlier so I could have a shot at interviewing for SA stint at BB / EB / MM. I've lateralled upmarket since then but it took a year or two
What do you wish you did as a freshman to prepare? I didn't know about it till soph year, but my freshman year I had an internship at a small PWM office. Definitely helped out in the LMM boutique interview
What is / was your biggest challenge breaking in? Getting told "no" or "we already hired all our interns" - you gotta find a way to overcome it. Never take no as an answer, maybe spots are full at banks you want to end up in so just move downstream, get some experience, and pivot that to get in a bank you want. Even if LMM boutiques are all full, pursue a tangential path such as transaction advisory, valuation, consulting, etc.
Was probably around 13-14. My Dad was day trading and would talk about it all day but wouldn't explain what it was. So I hopped on Google and started reading up on the markets and securities, which eventually led to market participants, issuers and their advisors. Definitely didn't learn about it "too late" but due to personal circumstances didn't apply for an internship in IB but ended up joining full time after graduation. Honestly, nothing I would have changed. I had a ton of fun in college and made a bunch of memories. It also helped my people skills which was great for interviewing and building relationships. I guess the main challenge I had to overcome was not not going through structured recruiting, so had to network a bit harder
End of my first year at medical school (lol), was very close to dropping out but grinded through it (purely so I could recruit like normal and wouldn't have a fucked up CV) and ended up landing a top group.
2008 and the GFC
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